# China buys more; will it be enough for Phase One?

> Sales of U.S. soybeans, cotton, pork, corn, sorghum and wheat to China are stronger than a year ago. Iowa State's CARD think tank predicts China will import only $18.6 billion of U.S. farm products in 2020 against a $36.5 billion Phase One target. The USDA is due to update its export estimate.

- Date: 2020-05-27 · published 2020-05-27T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/52985-china-buys-more-will-it-be-enough-for-phase-one
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Improving Chinese purchases of grains support U.S. corn, sorghum and wheat prices, but a projected large shortfall limits the upside.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-10-04 | [Why Biden will try to enforce Trump’s phase one trade deal with China \| PIIE](https://feedsoft.ai/events/44413-why-biden-will-try-to-enforce-trump-s-phase-one-trade-deal-with-china-piie.md) | -0.3% | -0.9% |
| SOY | 2019-10-11 | [Trump announces 'phase one' trade deal with China](https://feedsoft.ai/events/56427-trump-announces-phase-one-trade-deal-with-china.md) | +0.9% | +0.2% |
| SOY | 2020-05-13 | [ADM still optimistic China's U.S. farm products buying will hit Phase 1 target](https://feedsoft.ai/events/52984-adm-still-optimistic-china-s-u-s-farm-products-buying-will-hit-phase-1-target.md) | -0.8% | +1.9% |
| SOY | 2017-08-17 | [Weekly Export Report - China buys more soybeans \| Farm Progress](https://feedsoft.ai/events/69323-weekly-export-report-china-buys-more-soybeans-farm-progress.md) | +1.4% | +4.9% |
| SOY | 2019-12-19 | [Trade war: China buys US soybeans after fresh round of tariff waivers, but will it be the last for some time? \| South China Morning Post](https://feedsoft.ai/events/55445-trade-war-china-buys-us-soybeans-after-fresh-round-of-tariff-waivers-but-will.md) | +1.0% | +0.1% |
| CORN | 2021-10-04 | [Why Biden will try to enforce Trump’s phase one trade deal with China \| PIIE](https://feedsoft.ai/events/44413-why-biden-will-try-to-enforce-trump-s-phase-one-trade-deal-with-china-piie.md) | -0.2% | +3.7% |
| CORN | 2023-04-20 | [China buys more U.S. corn - McKeany-Flavell](https://feedsoft.ai/events/14847-china-buys-more-u-s-corn-mckeany-flavell.md) | -1.0% | -9.9% |
| CORN | 2019-10-11 | [Trump announces 'phase one' trade deal with China](https://feedsoft.ai/events/56427-trump-announces-phase-one-trade-deal-with-china.md) | +2.8% | +0.3% |

## Sources

- agriculture.com: https://www.agriculture.com/news/business/china-buys-more-will-it-be-enough-for-phase-one

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.